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FTSE 250 movers: easyJet, Bluefield up on bid talk; Pan African slumps on outlook
(Sharecast News) - FTSE 250 (MCX) 23,378.13 -0.20%
EasyJet surged after US investment firm Castlelake announced late on Friday that it was in the early stages of considering a possible offer for the budget airline.
EasyJet said on Monday that it is not in talks with Castlelake and that any bid would be "highly opportunistic", given the fact that its share price is "temporarily depressed" due to the current situation in the Middle East and its impact on customer confidence and jet fuel prices.
Under UK takeover rules, Castlelake has until 1700 BST on 26 June to announce a firm offer or walk away.
Bluefield Solar Income Fund surged after agreeing to be bought by Drax in a cash deal worth about £548m.
Drax said on Monday that the acquisition would materially expand its renewables business by adding BSIF's roughly 0.9GW portfolio and development pipeline, boosting underlying earnings from clean energy and improving cash‑flow visibility.
Applied Nutrition shot higher as it lifted its revenue expectations for the year.
Trading for the year ending 31 July was running ahead of expectations, with revenues now forecast to come in at roughly £148m and underlying earnings margins to be in line with consensus estimates, excluding the impact of a newly announced US acquisition.
Applied Nutrition has acquired US‑based Nutrablend Group for $16m, funded from existing cash, with the deal including a fully fitted manufacturing and warehousing facility in New York, valued at about $7m, along with production equipment, inventory and two in‑house brands - Basic Supplements and GR8 Lifestyle.
Pan African Resources slumped as it said annual gold production would be at the lower end of guidance. It now expects output of around 275,000 ounces for the year to June 30, up 40% from 196,527 ounces a year earlier but at the bottom of its 275,000 to 292,000-ounce target range.
FTSE 250 - Risers
Bluefield Solar Income Fund Limited (BSIF) 91.50p 15.99% Applied Nutrition (APN) 266.50p 9.45% Trustpilot Group (TRST) 253.20p 5.27% easyJet (EZJ) 427.60p 4.58% Softcat (SCT) 1,815.00p 4.26% Harbour Energy (HBR) 273.20p 4.12% Bytes Technology Group (BYIT) 382.60p 3.96% Aston Martin Lagonda Global Holdings (AML) 45.90p 3.91% Hays (HAS) 34.08p 3.33% Baillie Gifford US Growth Trust (USA) 357.50p 3.32%
FTSE 250 - Fallers
Pan African Resources (PAF) 117.60p -14.89% AEP Plantations (AEP) 1,612.00p -7.25% C&C Group (CDI) (CCR) 94.00p -6.00% Ocado Group (OCDO) 207.20p -5.83% Bellway (BWY) 1,816.00p -5.16% Vistry Group (VTY) 265.40p -5.09% Genuit Group (GEN) 248.60p -4.90% Grainger (GRI) 151.90p -3.92% Marshalls (MSLH) 136.10p -3.69% Telecom Plus (TEP) 971.00p -3.69%
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